Eaton 4Q profit up on slight market improvements

CLEVELAND 
Eaton says its fourth-quarter profit rose with the economy stabilizing and the manufacturing company believes business will grow this year.

The Cleveland company, which makes hydraulics and electrical equipment used in a range of industries, said Monday that earnings climbed 29 percent to $211 million, or $1.25 per share, compared with $163 million, or 98 cents per share, a year ago.

Removing acquisition charges, operating profit was $1.35 per share.

Some of those profits were derived from a slimmer work force and sales for the three months ended Dec. 31 slipped 10 percent to $3.13 billion.